According to Xinhua, China's manufacturing sector expands for the sixth month in a row. The country's manufacturing purchasing managers' index (PMI) came in at 51.3 in January, 0.1 percentage points lower than that recorded in December, according to data released Wednesday by the National Bureau of Statistics (NBS). NBS statistician Zhao Qinghe said January's reading remained at a high level since 2012 and pointed to steady expansion of the manufacturing sector.
As expected, the GDP grew by 6.7%, down from the 6.9% in 2015. Strong financial expenses and bank debts kept high growth in real estate industry. But Xi warned that Chinese economy is facing downward pressure, where financial risks and industrial overcapacity are top economic challenges. Additionally, the risk of trade war with America is another challenge threatening Chinese economy. In truth GDP growth rate in China is largely irrelevant and rather than being an achievement, it is simply "a budget target ".